Ireland: Now its credit rating is downgraded to junk

13th July 2011

Moody's said its decision was based on the possibility Ireland would need a second bail-out before it can return to capital markets.

The BBC News website reported that Ireland's support programme backed by the European Union and International Monetary Fund support programme is due to end in late 2013.

Ireland, Greece and Portugal have all been downgraded by ratings agencies several times in recent months.

In its latest downgrade, Moody's cut Ireland's ratings by one notch to Ba1 from Baa3.

To receive our free email newsletter sign up here.  

Leave a Reply

Your email address will not be published. Required fields are marked *